Shares of state-run major NTPC surged in early trade Monday after global brokerage Jefferies said that the PSU will benefit from Central Electricity Regulatory Commission (CERC) latest decision. NTPC share price rallied 5.8 per cent to hit the day’s high at Rs 151.35. The CERC, in its draft, allowed energy charges per unit of power to be calculated with a variation of 85 kilocalorie to billing on actual gross calorific value of coal received, giving NTPC the benefit of about 2.7 per cent on its coal cost, Jefferies noted.

The Telecom Regulatory Authority of India (Trai) has refused to provide the department of telecommunications (DoT) a detailed methodology adopted by it to calculate the reserve price for spectrum for fresh auctions. Sources told FE that now DoT is left with the only option of asking the regulator to come out with a long-term calculation methodology for which the latter will have to come out with a consultation paper and seek inputs of the stakeholders.

Ahead of the planned special audit of telecom operators, industry body COAI has favoured a single audit exercise that meets the requirements of multiple stakeholders like the telecom department and sector regulator Trai.

“The DoT is entitled to do audits and we can’t argue with that. But can we get to a point where a single audit exercise is conducted by one entity that is agreed to by all parties as competent, to do detailed checks required by various stakeholders like CAG,

Industry body Nasscom has collaborated with the Indian Institute of Technology, Madras for its FutureSkills Platform that is targeted at re-skilling/upskilling four million people on digital skills.

Under its FutureSkills Platform, Nasscom aims to re-skill/upskill four million people from the IT-ITeS industry, students entering the workforce and employees of other industries/government on digital skills.

New Delhi: Telecom operators seeking financial relief from the government want the department of telecommunications (DoT) to hire an independent evaluator to audit them and verify their financial stress.

This comes after the government indicated no relief is likely unless all telcos— Vodafone Idea Ltd, Bharti Airtel Ltd and Reliance Jio Infocomm Ltd—agree there is financial strain.

Domestic equity markets on Monday opened in green. The benchamrk BSE Sensex opened 200 points higher while Nifty at 10,856.75. At 9:45, Sensex was at 36,173.90 up by 210.97 (0.59%) and Nifty was at 10,856.45 up by 51.00 points (0.47%).

The Centre is planning to revive its strategy to keep an eye on massive discounts offer by major e-commerce players like Amazon, Flipkart among others.

Citing sources, a report in the Times of India stated that the commerce and industry ministry is looking at ways to strengthen the e-commerce sector while safeguarding the interests of domestic retailers.

In a fresh round of trouble for figitive Vijay Mallya, UK court has begun bankruptcy proceedings against him. According to a report in Hindustan Times, Vijay Mallya is facing bankruptcy proceedings in a London court brought by the State Bank of India and 12 other lenders seeking to recover £1.145 billion extended as loans to Kingfisher Airlines that Mallya guaranteed.

Jaguar Land Rover will announce plans early next year to cut thousands of jobs as part of a turnaround strategy, the Financial Times reported, citing several unidentified people close to the company.

The UK luxury carmaker, owned by India’s Tata Motors Ltd, will outline the measures in January as part of a three-year cost-cutting program, the report said.

The central board of the Reserve Bank of India (RBI) on Friday discussed its governance framework and decided the matter required further examination, the central bank said in a statement on its website.

According to sources privy to the deliberations, Subhash Chandra Garg, economic affairs secretary, made a presentation at the meeting about how the governance structure for the RBI should be examined.

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